What kinds of Car Insurance are there in South Africa?
What kinds of car insurance are there in South Africa? Most South African insurance companies offer three main types of vehicle cover. Comprehensive, Third party fire and theft and Third party only.
This article intends to examine these three forms of vehicle insurance thereby supplying readers with information they need when making car insurance decisions.
The Three different Kinds of Car insurance Available
Comprehensive car insurance:
Having Comprehensive insurance covers you in virtually every situation including hijacking, theft, damages from natural causes litigation and accidents.
Comprehensive also covers against an accident where you are the cause, by paying for damages caused to the other vehicles. It is the most expensive form of car insurance, but well worth it.
Third-party fire and theft:
This insurance compares well to Comprehensive protection, the main difference being protection against self-inflicted car damage. Insurance covers your car should it be hijacked, damaged by fire or adverse weather conditions.
You have to pay for replacement or repair costs if involved in an accident. Also insured is any third party if weather conditions, fire or theft is the cause.
Third party only:
This form of vehicle insurance only covers damages to another person’s car, i.e. the third party, and also any injuries incurred during the accident.
This insurance does not protect against damages or losses to your vehicle affected by theft, fire or a crash. It is for this reason that it is the cheapest of the three forms of vehicular insurance.
For those with vehicles of lower values or entirely paid for cars, this is an insurance option worth having, it saves on paying the costs of a third party’s vehicle repairs.
The three Kinds of car Insurance available continued
You should carefully consider the pros and cons of which type of car insurance to buy.
Cheaper options such as third-party only insurance mean lower premiums. Unfortunately, it also means higher repair bills for you.
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